Advantages of good governance
Last episode we talked about the need for good governance structures and where family businesses should start. This week we’re focusing on the upsides of good governance – the advantages it can bring to a family business.
Key questions raised in this episode:
1. [0:48] This episode we are focusing on the positives from governance, with that in mind, can you talk about how governance and ‘purpose’ interact for family businesses?
2. [2:00] Presumably this ‘purpose’ should run through the DNA of a family business – what does this look like in practice?
3. [3:40] What are the risks of not having that sense of shared purpose?
4. [4:58] How does a family decide on the purpose of a business? What are the best ways to embed it in the governance structure?
5. [6:30] What is good practice in terms of family meetings? How important are they?
6. [8:15] How do the most successful family businesses collaborate?
You can read the full Family Business Survey here: https://bit.ly/3kuu3yQ
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This episode was recorded on 03/03/2020
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The Pulse from Smith & Williamson
Family Wealth Show: Advantages of good governance
Broadcast on Smith & Williamson at 09:00, 18th of MARCH 2021
Available online from 10:00 on the same day .